Regulation 3 Establishment, maintenance and operation of a police pension fund

(1)

Every police authority shall establish a police pension fund.

(2)

Such fund shall be established for the financial year ending on 31st March 2007 and maintained for each subsequent financial year.

(3)

Every police authority shall keep accounts of payments into or out of the police pension fund.

(4)

Such accounts shall be maintained in accordance with proper practices^f1.

(5)

Subject to the following provisions of these Regulations–

(a)

any sum paid or repaid to a police authority for the purposes of the regulations mentioned in paragraph (6) shall be receivable into the police pension fund; and

(b)

any sum paid or repaid by a police authority for the purposes of the regulations mentioned in paragraph (6) shall be payable out of the police pension fund.

(6)

The regulations mentioned in this paragraph are–

(a)

the 1987 Regulations;

(b)

the 2006 Regulations;

(c)

in accordance with regulations 6 and 7, the provisions of the Injury Benefit Regulations mentioned in regulation 6(3); and

(d)

any other previous Regulations making provision for police pensions, in connection with rights acquired and liabilities incurred under such Regulations (including such rights and liabilities which have been transferred to a police authority).

Annotations

Footnotes

f1: See section 21 of the Local Government Act 2003 (c. 26) and, in particular, subsection (4)(e).